Edward D’Alelio
About Edward D’Alelio
Edward D’Alelio, age 72, is Chairman of the Board and an independent director of Blue Owl Technology Finance Corp. (OTF), serving since 2018. He was formerly Managing Director and CIO for Fixed Income at Putnam Investments (1989–2002) and holds a B.A. from the University of Massachusetts Boston and an M.B.A. from Boston University. He sits on Audit, Nominating & Corporate Governance (NCG), and Co‑Investment Committees, bringing deep fixed income and governance expertise .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Putnam Investments | Managing Director & CIO, Fixed Income | 1989–2002 | Investment Policy Committee; attribution/portfolio performance committees |
| Keystone Investments | Portfolio Manager | Prior to Putnam (dates not specified) | Portfolio management |
| The Hartford Insurance Co. | Investment Analyst | Prior to Keystone (dates not specified) | Research/analytics |
| Blackstone Senior Floating Rate 2027 Term Fund | Director | Apr 2010–Feb 2025 | Board service |
| Blackstone Long Short Credit Income Fund | Director | Nov 2010–Feb 2025 | Board service |
| Blackstone Strategic Credit 2027 Term Fund | Director | May 2021–Feb 2025 | Board service |
| Archibald Candy; Doane Pet Care; Trump Entertainment Resorts; UMass Memorial Hospital | Director | Prior assignments (dates not specified) | Corporate board oversight |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Blue Owl Capital Corporation (OBDC) | Director | Since Mar 2016 | Oversees BDC within fund complex |
| Blue Owl Capital Corporation II (OBDC II) | Director | Since Nov 2016 | Oversees BDC within fund complex |
| Blue Owl Credit Income Corp. (OCIC) | Director | Since Sep 2020 | Oversees BDC within fund complex |
| Blue Owl Technology Income Corp. (OTIC) | Director | Since Aug 2021 | Oversees tech-focused BDC |
| Blue Owl Capital Corporation III (OBDE) | Director | Feb 2020–Jan 2025 | Prior board service |
| Blue Owl Technology Finance Corp. II (OTF II) | Director | Nov 2021–Mar 2025 | Prior board service (pre‑merger) |
| University of Massachusetts Boston – School of Management | Executive in Residence | Since 2002 | Academic engagement |
| UMass Foundation | President (2025 proxy); previously investment committee chair | As of 2025 (President) | Endowment oversight |
| Ceres Farms | Advisory Committees | Not specified | Agricultural investment advisory |
| Vermont Farmstead Cheese | Director | Since Sep 2009 | Board governance |
Board Governance
- Independence: The board is majority independent; D’Alelio is an Independent Director under the 1940 Act .
- Roles: Chairman of the Board; committee memberships include Audit, NCG, Co‑Investment (not a committee chair) .
- Attendance: The board met 16 times in 2024; each incumbent director attended at least 75% of board and committee meetings during periods served .
- Committee structure: Audit Committee chaired by Christopher Temple; NCG Committee chaired by Eric Kaye; Co‑Investment Committee formed on February 18, 2025; all committee members are independent .
| Governance Item | Detail |
|---|---|
| Classified board | Three classes with staggered three‑year terms |
| Chairman | Edward D’Alelio (Independent) |
| Independent status | Independent (not “interested person”) |
| Committees | Audit; NCG; Co‑Investment (member) |
| 2024 meetings | 16 board meetings; ≥75% attendance by incumbents |
| Annual meeting attendance | Two directors attended 2024 annual meeting |
Fixed Compensation
| Metric | 2024 Amount (OTF) |
|---|---|
| Fees earned and paid in cash (OTF) | $215,000 |
| Total compensation from Fund Complex | $1,492,500 |
| Fund Complex breakdown (OBDC; OBDC II; OBDE; OCIC; OTF; OTF II; OTIC) | $265,000; $165,000; $196,250; $265,000; $215,000; $190,000; $196,250 |
Director retainer scales by OTF assets under management (effective April 1, 2025): annual cash retainer $150,000–$350,000 with additional chair retainers ($15,000 Chair of Board; $10,000 Audit Chair; $5,000 other committee chair), tiered by AUM brackets .
Performance Compensation
| Component | Disclosure |
|---|---|
| Equity awards (RSUs/PSUs), options, performance bonuses | No director equity or variable compensation disclosed; director compensation presented as cash retainers and chair fees |
Other Directorships & Interlocks
| Entity | Type | Role | Interlock/Notes |
|---|---|---|---|
| OBDC; OBDC II; OCIC; OTIC | Blue Owl BDC affiliates | Director | Multiple affiliated boards within Blue Owl fund complex; potential information flow and allocation interlocks |
| OBDE; OTF II | Blue Owl BDC affiliates | Prior Director | Historical interlocks; ended Jan/Mar 2025 |
| Blackstone closed‑end funds | External | Prior Director | Ended Feb 2025; outside manager experience |
Expertise & Qualifications
- Fixed income CIO experience at Putnam; oversight of investment policy and performance committees .
- Multi‑BDC governance experience across Blue Owl’s fund complex; deep credit markets acumen .
- Academic and nonprofit leadership roles (UMass Foundation President; Executive in Residence) .
Equity Ownership
| Item | Value |
|---|---|
| Shares beneficially owned (OTF) | 42,549 |
| % of shares outstanding | ~0.009% (42,549 / 465,122,953) |
| Dollar range in OTF | Over $100,000 |
| Dollar range across Fund Complex | Over $100,000 |
| Hedging/pledging policy | Company prohibits hedging and pledging of Company securities by directors and officers |
Governance Assessment
-
Positive signals:
- Independent Chairman with broad fixed income and multi‑fund governance experience; serves on core oversight committees .
- Strong board‑level attendance in 2024; all incumbents ≥75% .
- Prohibitions on hedging/pledging support ownership alignment; beneficial ownership over $100k range and direct share ownership disclosed .
- Shareholder support for re‑election in 2025 was strong (168.3M “For” vs 0.25M “Against”) .
-
Conflict risk and mitigants:
- Extensive interlocks within Blue Owl fund complex and the Adviser’s affiliates could create allocation and co‑investment conflicts; however, SEC exemptive relief requires “required majority” of Independent Directors to make fairness findings, and the Co‑Investment Committee reviews such transactions .
- Adviser compensation and co‑investment policies are disclosed; allocation policies aim for fair and equitable treatment over time but cannot guarantee resolution in Company’s favor in all cases (ongoing oversight required) .
2025 Shareholder Vote Outcome (signal of investor confidence)
| Nominee | For | Against | Abstain | Broker Non‑Votes |
|---|---|---|---|---|
| Edward D’Alelio | 168,283,407 | 249,572 | 6,711,106 | 67,095,598 |
Overall, D’Alelio’s independent leadership, committee engagement, and attendance support board effectiveness, while his multiple affiliated boards necessitate sustained scrutiny of co‑investment and allocation decisions to ensure alignment with OTF shareholders under the SEC framework and committee oversight .